CMGI quarterly profit surges; revenue falls

KatherineHunt

SAN FRANCISCO (MarketWatch) -- CMGI Inc.
cmgi
after Monday's closing bell reported first-quarter net earnings of $10.3 million, or 2 cents a share, up from $2.13 million, or breakeven on a per-share basis, during the same period a year ago. The Waltham, Mass.-based supply-chain management company posted revenue of $283.6 million vs. $303.4 million. Excluding items related to depreciation, amortization of intangibles, stock-based compensation and restructuring, CMGI reported earnings of $10.2 million, compared with $9 million a year ago. Gross margin increased to 10.6% from 10.2%. The decline in revenue was primarily attributable to anticipated lower revenue from a single client, in connection with a change in their supply-chain model, CMGI noted.

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